SurModics to Expand Alabama Facility with $30M Purchase
Building will house R&D and manufacturing activities.!--h2>
SurModics’ Brookwood Pharmaceuticals subsidiary acquired an additional facility in the Birmingham, AL area for $30 million. This site will expand Brookwood’s R&D and clinical manufacturing capacity in support of customer projects. Additionally, SurModics’ corporate center for commercial GMP manufacturing of drug delivery products will also be located here.
“Customer interest in Brookwood Pharmaceuticals’ drug delivery technologies and product development and manufacturing capabilities has never been stronger, as evidenced by the record revenue reported from Brookwood in the second quarter of fiscal 2008," says Bruce Barclay, president and CEO of SurModics. Brookwood made $5.2 million in revenues.
“When this expansion is complete, we will be fully equipped to help customers with product development and supply at every stage, from early feasibility to production of marketed products,” says Arthur J. Tipton, Ph.D., vp of SurModics and president of Brookwood Pharmaceuticals.
“This particular building was selected because it will accommodate the manufacturing of large-scale pharmaceutical products needed by our customers. If customer projects continue to progress as expected and we maintain our execution against the business plan, Brookwood’s employee population could reach roughly 300 over the next three to five years.”